Alcoa has achieved several critical milestones in its acquisition of Alumina Limited, with the transaction expected to complete around August 1, 2024. The company filed its definitive proxy statement on June 6 and scheduled a Special Meeting of Shareholders for July 16. Key regulatory approvals have been secured from Brazil's CADE and Australian Competition authorities.The Australian Court has ordered Alumina to dispatch its Scheme Booklet to shareholders and convene a vote on July 18, with a second court hearing scheduled for July 22. An Independent Expert Report has deemed the transaction fair and reasonable, supporting Alumina shareholders' interests. The deal awaits approval from both companies' shareholders and Australia's Foreign Investment Review Board.According to CEO William Oplinger, this acquisition aligns with Alcoa's strategy to strengthen its position as a leading pure-play, upstream aluminum company globally. The transaction requires no due diligence or financing conditions, positioning it for streamlined completion.

Alcoa has achieved several critical milestones in its acquisition of Alumina Limited, with the transaction expected to complete around August 1, 2024. The company filed its definitive proxy statement on June 6 and scheduled a Special Meeting of Shareholders for July 16. Key regulatory approvals have been secured from Brazil's CADE and Australian Competition authorities.The Australian Court has ordered Alumina to dispatch its Scheme Booklet to shareholders and convene a vote on July 18, with a second court hearing scheduled for July 22. An Independent Expert Report has deemed the transaction fair and reasonable, supporting Alumina shareholders' interests. The deal awaits approval from both companies' shareholders and Australia's Foreign Investment Review Board.According to CEO William Oplinger, this acquisition aligns with Alcoa's strategy to strengthen its position as a leading pure-play, upstream aluminum company globally. The transaction requires no due diligence or financing conditions, positioning it for streamlined completion.